Advertisement
Prime Minister Shri Narendra Modi outlined the government's continued focus on GST reforms and economic strengthening, noting that citizens will benefit from reduced tax burdens and increased savings. He recalled the 2017 introduction of GST and highlighted the latest structural reforms earlier this year. Modi also discussed key initiatives, including tax exemptions for individuals earning up to INR 12 lakh, and developments in India's defence manufacturing, such as the upcoming production of AK-203 rifles. Emphasizing self-reliance and research, he encouraged global investment, citing India's resilient growth despite geopolitical uncertainties.
Prime Minister Shri Narendra Modi stated that the tax burden on citizens is expected to reduce further as India's economy gains strength, while reforms in the Goods and Services Tax (GST) remain an ongoing process. Speaking after inaugurating the UP International Trade Show (UPITS) in Greater Noida, he noted that the recent structural reforms in GST are designed to boost economic growth and enable greater savings for the people. Advertisement
He recalled that the government had introduced GST in 2017, marking a significant step in reforming the indirect tax system, and followed it up with further reforms earlier this year. Modi mentioned that the government does not intend to stop there, adding that as the economy strengthens, tax relief will continue, and GST reforms will progress with the support of the people.
The Prime Minister highlighted initiatives such as exempting individuals earning up to INR 12 lakh annually from income tax and implementing GST 2.0 reforms, emphasizing that these measures will increase the disposable income of citizens.
Modi also drew attention to developments in India's defence sector, stating that the country is creating a robust ecosystem where every component is marked 'Made in India.' He shared that production of AK-203 rifles will soon begin at a factory in Uttar Pradesh, in collaboration with Russia.
Reiterating the need for self-reliance, Modi encouraged greater investment in research and innovation, stressing that all products that can be manufactured in India should be made domestically. He further invited global investors, noting that despite geopolitical challenges, India continues to offer an attractive growth environment.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
